Crude Oil Prices Decline as Markets Anticipate New US Sanctions Against Iran

Crude oil prices are experiencing modest declines at the start of the week, with Brent crude trading around $93 per barrel and WTI crude at approximately $85.50. This downturn comes as investors await an announcement from US Treasury Secretary Scott Bessent, who is expected to outline new economic sanctions against Iran. The proposed measures could further disrupt oil supplies from the Middle East, particularly concerning the Strait of Hormuz, and add to global energy market uncertainties.